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Nexybit, a revenue-sharing mining cryptocurrency exchange, lists the Binance Exchange Coin(BNB) on November 9th. Binance Coin(BNB) is available in the three most popular cryptocurrency pairs BTC, ETH, and USDT.
The Binance Coin, a coin issued by the Binance Exchange, is within the top 10 most traded cryptos according to CoinMarketCap, following a very successful TGE. Exchange Coins such as BNB are becoming more widespread.
The Binance Coin cannot be exchanged for fiat money because it is only possible to exchange cryptocurrency. Users first need to buy the Binance Coin on the Binance exchange, users who will recieve a discount on the commission when they buy other cryptcurrencies such as Bitcoin. The tokenomics structure encourages users to trade more within the Binance Exchange.
Binance has grown at a rapid pace, and reached the top-ranked exchange based on trading volume within five months of opening the BNB Exchange Token Model.
Nexybit also launched their own Exchange Token, the Nexybit Token(NXY). The largest difference with Binance Coins is the concept of mining and reward. The main revenue of crypto exchanges come from Transaction Fees. Everytime a user conducts a transction, they also get a Nexy(NXY) Tokens, this process of trans-fee coin generation is called “Token Mining”.
In addition, if you have a Nexy(NXY) token, you will receive a portion of the Exchange Revenue,